John W. Payne
Professor of Business Administration
John W. Payne is the Joseph J. Ruvane Professor of Business Administration at the Fuqua School of Business, Duke University. He also has appointments as a Professor of Psychology and Neuroscience and as a Professor of Law at Duke University.
His education includes a B.A. 1969, M.A. 1972, Ph.D. 1973 in Psychology from the University of California, Irvine. He held a position as a postdoctoral fellow in Cognitive Psychology at Carnegie-Mellon University, 1973-74.
Professor Payne’s research deals with how people make decisions, and how decision making might be improved. His particular subfield of interest is decision making under risk. He has authored or edited four books, including The Adaptive Decision Maker, and more than a 100 additional journal articles and book chapters.
He teaches courses on management and decision making.
Among his honors, Professor Payne has been elected President of the Judgment and Decision Society. He has won the Leo Melamed Prize for scholarship at the University of Chicago, for the most significant research by business school faculty. He was awarded the first JCR award for long-term contribution to consumer research He has been selected as a Fellow, American Psychological Association, 2007, and a Fellow, American Psychological Society, 1995.
Payne, J. W., et al. “Behavioral Decision Research: An Overview.” Measurement, Judgment, and Decision Making, Elsevier, 1998, pp. 303–59.
Payne, J. W. “The Scarecrow's search: A cognitive psychologist's perspective on organizational decision making.” Organizational Decision Making, edited by Z. Shapira, Cambridge University Press, 1996, pp. 353–74.
Bettman, J. R., et al. “The Use of Multiple Strategies in Judgment and Choice.” Individual and Group Decision Making, edited by N. J. Castellan, Lawrence Erlbaum Associates, 1993, pp. 19–39.
Bettman, J. R., et al. “Consumer Decision Making.” Handbook of Consumer Behavior, edited by T. S. Robertson and H. H. Kassarjian, Prentice Hall, 1991, pp. 50–54.
Payne, J. W., and J. S. Carroll. “An information processing approach to two-party negotiations.” Research on Negotiations and Organizations, edited by M. Bazerman et al., vol. 3, JAI Press, 1991.
Bettman, J. R., et al. “The Adaptive Decision Maker: Effort and Accuracy in Choice.” Insights in Decision Making: A Tribute to Hillel J.Einhorn, University of Chicago Press, 1990, pp. 129–53.
Payne, J. W. “Rationality in decision making: A commentary.” Organization and Decision Theory, edited by I. Horowitz, Kluwer-Nijhoff, 1990, pp. 165–70.
Payne, J. W. “Psychology of risky decisions.” Behavioral Decision Making, edited by G. Wright, Plenum, 1985.
Payne, J. W. “Applications of information processing and decision theories: A discussion.” New Directions in Decision Making: An Interdisciplinary Approach to the Study of Organization, edited by G. R. Ungson and D. N. Braunstein, Kent, 1982.
Payne, J. W., et al. “Risk preference: Empirical evidence and its implications for capital budgeting.” Financing Issues in Corporate Project Selection, edited by G. J. Dekinderen and R. Crum, Nyenrode Studies in Business, 1980.
Venkatraman, Vinod, et al. “Sleep deprivation biases the neural mechanisms underlying economic preferences.” The Journal of Neuroscience : The Official Journal of the Society for Neuroscience, vol. 31, no. 10, Mar. 2011, pp. 3712–18. Epmc, doi:10.1523/jneurosci.4407-10.2011. Full Text
Venkatraman, Vinod, et al. “Separate neural mechanisms underlie choices and strategic preferences in risky decision making.” Neuron, vol. 62, no. 4, May 2009, pp. 593–602. Epmc, doi:10.1016/j.neuron.2009.04.007. Full Text
Huettel, S. A., and J. W. Payne. “Integrating neural and decision sciences: Convergence and constraints.” Journal of Marketing Research, vol. 46, no. 1, Feb. 2009, pp. 14–17. Scopus, doi:10.1509/jmkr.46.1.14. Full Text
Payne, John W., et al. “Boundary conditions on unconscious thought in complex decision making.” Psychological Science, vol. 19, no. 11, Nov. 2008, pp. 1118–23. Epmc, doi:10.1111/j.1467-9280.2008.02212.x. Full Text
Amaldoss, W., et al. “Biased but efficient: An investigation of coordination facilitated by asymmetric dominance.” Marketing Science, vol. 27, no. 5, Sept. 2008, pp. 903–21. Scopus, doi:10.1287/mksc.1070.0352. Full Text
Bettman, J. R., et al. “Preference construction and preference stability: Putting the pillow to rest.” Journal of Consumer Psychology, vol. 18, no. 3, July 2008, pp. 170–74. Scopus, doi:10.1016/j.jcps.2008.04.003. Full Text
Payne, J. W., and J. R. Bettman. Walking with the Scarecrow: The Information-Processing Approach to Decision Research. Jan. 2008, pp. 110–32. Scopus, doi:10.1002/9780470752937.ch6. Full Text
Payne, J. W. “It is whether you win or lose: The importance of the overall probabilities of winning or losing in risky choice.” Journal of Risk and Uncertainty, vol. 30, no. 1, Jan. 2005, pp. 5–19. Scopus, doi:10.1007/s11166-005-5831-x. Full Text
Cox, J., and J. Payne. “Mutual Fund Expense Disclosures: A Behavioral Perspective.” Washington University Law Quarterly, vol. 83, 2005, pp. 907–38.